Tevarak
With Thanksgiving just two weeks away, deals for the end-of-the-year holiday shopping season becoming more visible every day, and inflation on the minds of consumers, Adobe (NASDAQ:ADBE) said Thursday that the prices on items sold online are showing signs of declining compared to a year ago.
Adobe (ADBE) said as much with the latest data from its Adobe Digital Price Index, which showed online prices in October dipping 0.7% from the same month last year. For many, October is viewed as the start of the traditional holiday shopping season, and according to Adobe (ADBE) the month was, in some regards, good for those looking to complete their shopping lists early.
Electronics prices dropped by almost 13% from a year ago, while computers saw a 16.4% drop over October 2021. Those numbers could extend into the rest of the year, as many retailers still have Black Friday deals in the works set to roll out after Thanksgiving. Adobe (ADBE) said prices of toys and sporting goods also declined from a year ago.
However, online prices on the whole are still not necessarily going in favor of all consumers. Adobe (ADBE), which analyzed data from 1T visits to retail sites and 100M product across 18 product categories, said that while online prices were down slightly from last year, those prices still rose 0.3% from September.
Groceries remained a pain point, as Adobe (ADBE) said the price of groceries climbed 14% over a year ago. Altogether, Adobe (ADBE) said prices in 10 of 18 categories rose on a year-over-year basis.
Adobe’s (ADBE) data on online prices came out as the Consumer Price Index for October showed prices rising 7.7% from year ago, or slightly less than the 8% increase that had been expected.
